- ILO report lists refinery sector woes
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05/03/1998
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Business Line (New Delhi)
Incressing competition, excess refining capacity and mounting cost of investments needed to tighten environmental standards threaten the profitability of the oil refining industry and cast a shadow over the job prospects of oil refinery workers, says a new report of the International Labour Organisation (ILO). The report, discussed at the tripartie meeting of refining industry experts held in Geneva last week, notes that despite growing concern about the climatic effects of using hydrocarbon fuels, demand for refined petroleum products is enjoying a slow and steady growth in most countries. Nevertheless, the report says, environmental considerations related to global warming and urban air quality and government fiscal measures may also serve to depress demand. This was the first ILO meeting devoted solely to the refining segment of the petroleum sector.